New York, Feb. 02, 2021 (GLOBE NEWSWIRE) -- The global proteomics market is expected to reach a market size of USD 57.57 Billion by 2027 and register a CAGR of 14.5%, during the forecast period, according to a new report by Reports and Data.
Surge in prevalence of genetic diseases, availability of high funding for research, and advancements in technology are among some key factors driving growth of the global proteomic market. Proteomics uses advanced technologies for the identification and qualification of proteins, coupled with the detection of diagnostic markers. It finds extensive application in drug development and personalized medicine.
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Proteomic system reduces time and resources required for biological testing and chemical synthesis of drugs. It also simplifies the process of drug discovery. Moreover, opportunities associated with mass spectrometry-based proteomics, biomarker identification, and nanoproteomics is another factor projected to drive growth of the market in the coming years. Several research companies are looking to increase applications of nanotechnology to enhance efficiency, precision, and productivity, which will positively affect growth of the market.
Proteomics instruments are expensive, which limits their adoption in small-scale enterprises and academic institutions. The high-cost factor also creates challenges for expansion of the proteomic market in developing economies.
COVID-19 impact:
The COVID-19 pandemic has propelled growth of the proteomics market. Increasing adoption of proteomics technology for detection of COVID-19 infected patients and discovery of new therapies will contribute to revenue of the market. Pharmaceutical companies are adopting advanced technologies for drug discovery and vaccine development, which is impacting the growth of the market positively.
Further key findings in the report
- Instrument segment revenue is expected to continue to register steady growth due to technological advancements such as 2D electrophoresis protein analyzers, which can accurately analyze thousands of proteins in a single run. Biochip analyzers and electrophoresis analyzer instruments are generally used in research, and continuous research activities and use is expected to drive revenue growth of this segment in the coming years.
- Chromatography is an indispensable tool in proteomic research as it provides high-resolution, high-speed, and high-sensitivity separation of macromolecules. Moreover, unique feature of chromatography will also enable detection of low-abundance species, which will drive its demand in the coming years.
- Clinical diagnosis segment revenue is growing rapidly due to wide applications in disease biomarker discovery, personalized medicine, and drug identification. Advancements in technology and growing trend of personalized medicine will also propel growth of the proteomics market.
- Asia Pacific market revenue is forecast to grow at a higher rate due to increasing number of pharmaceutical companies and Contract Research Organizations (CRO). Presence of less-stringent regulations in countries in the region will also support growth of the market.
- Key participants include Agilent Technologies, Inc., Danaher Corporation, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Merck KgaA, PerkinElmer, Inc., Promega Corporation, Waters Corporation, Bruker Corporation, and GE Healthcare.
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For the purpose of this report, Reports and Data has segmented the global proteomics market on the basis of product, technology, application, and region:
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Instruments
- Reagents
- Services
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- X-Ray Crystallography
- Chromatography
- Microarray Instruments
- Protein Fractionation Systems
- Surface Plasma Resonance (SPR) Systems
- Electrophoresis
- Spectroscopy
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Clinical Diagnosis
- Drug Discovery
- Others
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
- North America
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